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Santa Ines Copper-Gold Project

Santa Ines Copper-Gold Project 

The Santa Ines Copper-Gold Project consists of four mining leases covering 61.4Km2 and is located in the same geological structure and setting as BHP’s world-class Escondida Copper-Gold Mine in Chile, 80km to the northwest, and 40km south-west of First Quantum’s Taca Tacca Cu-Au-Mo Project.

Power has executed a binding sale and purchase agreement (Agreement) with Fuyang Mingjin New Energy Development Co., Ltd (Mingjin) for the Santa Ines Project for an all-cash consideration of A$1.5 million.

The divestment on the non-core Santa Ines Project is consistent with the Company’s commitment to the development of its lithium assets in Argentina. The sale proceeds are intended to be deployed in Power’s ongoing expedited development plans for its Salta Lithium Project.

Mingjin has completed its due diligence process, and regulatory steps required to complete the transaction are currently being finalised.